How many people serve on the Federal Reserve Board of Governors of the Federal Reserve System?

By Pamela Landy

Seven members serve on the Board of Governors of the Federal Reserve System, founded in 1913.

All are appointed to 14-year terms by the president.

The Federal Reserve System, which includes all national banks and many state banks, helps to maintain the country’s economic health through such means as fixing reserve deposit requirements and establishing discount rates.